Why do I need to be verified in order to rent items on Circular Marketplace?

When we first launched Circular Marketplace, we promised a secure platform to earn, save and give. To enable this, all users, especially borrowers need to be verified – this is part of our Circular Marketplace Promise.

The verification process involves authenticating the user’s Full Name, Date of Birth, Address and Mobile Number.

This process is triggered when a user makes a rental request. Once the user details are submitted, we start the authentication process through our third party electronic identification verification services (EIDV Services).

Next step is to assess the authentication result of the user, and establish an authenticated mark for the following metrics:

• Full Name
• Date of Birth
• Address
• Mobile

Is insurance part of Circular Marketplace Promise?

We are unable to provide insurance on Circular Marketplace at this stage. We encourage you to get in touch with your Insurer and seek independent advice on insuring your items for rental on Circular Marketplace.

Circular Marketplace will continue to evaluate our insurance options. This is definitely our intention, we will work hard on our end to identify a suitable solution from the insurance market in New Zealand.

Who is liable of the item during the rental period?

Borrowers are fully liable for loss or damages caused to the item during the rental period. Borrowers must therefore make sure they have the necessary funds available to replace or repair the item in the event that you’re unable to return it in the condition it was rented in.

Borrowers are fully responsible for a rented item in their possession during the rental period. In the unforeseen event of damage, theft, loss or confiscation, you’re liable for the cost of rectifying the problem.

What is the Owners responsibility and accountability?

The Owners responsibility is to be honest and truthful while listing their item for rental. The listing needs to be accurate in the description provided, fit for safe use and highlight any defects or blemishes upfront in the listing.

Owners are ultimately accountable for renting out your items. Circular Marketplace is a service that connects Owners and borrowers. We do our best to enable users to rent safely, but it is your responsibility to protect your items and managing consequences if something goes wrong.

What impact does Circular Marketplace have and how am I a part of this?

Circular Marketplace is a social enterprise, which means we have impact embedded within our purpose, operations and business model.

On a global scale, we make an impact on the United Nations Sustainable Development Goals. The Sustainable Development Goals are a call for action by all countries – poor, rich and middle-income – to promote prosperity while protecting the planet.

We directly or indirectly make an impact on the following Sustainable Development Goals:

• Goal 9: Industry Innovation and Infrastructure
• Goal 11: Sustainable Cities and Communities
• Goal 12: Responsible Consumption and Production
• Goal 13: Climate Action
• Goal 15: Life on Land
• Goal 17: Partnerships for the Goals